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HPS To Acquire Marlin Business Services (MRLN) – Shares Rally

Updated: 19 Apr 2021

Marlin Business Services (NASDAQ: MRLN) is the top gainer so far in the US on Monday after the company announced it will be acquired by HPS Investment Partners LLC.

HPS will acquire Marlin through its European Asset Value Funds at $23.50 per share, representing a 65% premium over the closing price of Marlin’s common stock of $14.24 on April 16.

Global investment firm, HPS, has approximately $68 billion in assets under management. The aggregate consideration paid by certain funds managed by HPS to Marlin shareholders may be reduced if the total costs connected with the de-banking of Marlin Business Bank exceed $8 million.

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Once the transaction is complete, Marlin will become a privately held company. The transaction is expected to close in the first quarter of 2022.

Marlin’s share price is trading 55.55% higher since the announcement at $22.15 after closing Friday’s session at $14.24 per share.

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